半导体行业观察·2026-01-09 01:53Core Insights - The article highlights the significant growth in Ethernet switch sales, driven by the demand for high-speed switches (200 Gb/s, 400 Gb/s, and 800 Gb/s), which accounted for $5.43 billion, or 37% of the total Ethernet switch market revenue [1] - The overall Ethernet switch revenue reached a historical high of $14.67 billion in Q3 2025, reflecting a year-over-year growth of 35.2% [1][12] - The rise of ODMs (Original Design Manufacturers) in the data center Ethernet switch market is notable, as they have gained a dominant position, impacting traditional vendors like Cisco and Arista [13] Ethernet Switch Market Growth - Ethernet switch sales based on the Ethernet protocol saw a year-over-year increase of 35.2%, reaching approximately $14.7 billion in Q3 2025, marking a historical peak [1][12] - The sales growth is primarily attributed to high-end switches, with 200 Gb/s and above switches contributing significantly to the revenue [1] - The total shipment of Ethernet ports reached around 73.5 million, more than double the previous year's figures, with 27.9 million ports for switches operating at 200 Gb/s and above [12] Vendor Performance - Cisco's Ethernet switch revenue for Q3 2025 was $4.37 billion, showing an 8.9% growth and maintaining a market share of 29.8% [8] - Huawei's revenue was $1.20 billion, with a growth rate of 15.2%, while HPE experienced a remarkable growth of 218.9%, reaching $1.83 billion [8] - Nvidia's revenue from Ethernet switches was $1.01 billion, reflecting a growth of 167.7% [8] Routing Device Market - Routing device sales slightly exceeded $3.6 billion in Q3 2025, with a year-over-year growth of 15.8% [15] - Service providers and large-scale data centers accounted for 74% of the router sales, indicating a strong demand in these sectors [15] - Cisco's router revenue grew by 31.9% to $1.35 billion, showcasing the success of its integrated Silicon One architecture [16]